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Banking on Change, a partnership between Barclays, Plan International and CARE was established in July 2010. Originally it set out to deliver a savings-led micro-finance programme to improve the financial inclusion of people in 11 countries across Africa, Asia and South America.
Plan India implements this project in Delhi in partnership with Dr. A. V. Baliga Memorial. The project was launched in July 2010 in the areas of Mangolpuri and Sultanpuri and its adjacent resettlement colonies of North-West district of Delhi. The goal of the project is ‘to improve the economic security and quality of life of disadvantaged children’ by providing young women access to financial services through financial linkages and micro-enterprise development activities.
As of now, over 14,944 members have been unified into more than 903 SHGs. The project has advanced towards institution building and strengthening with the convening of an Annual General Body Meeting of the SHG Federation.
Newly formed clusters have also included their elected representatives in the Federation. The hand over process of a sanitary napkin production unit to the Federation has also been completed. Now, the Federation is making efforts towards linkages with government institutes, schemes, financial institutions, grants etc. 98 members have benefitted of Barclays’ outreach service by opening personal account under the Pradhan Mantri Jan Dhan Yojana (PMJDY). Besides this, 4,851 members have received entitlements from this scheme through other banks. In addition to JOVT, value chain services are also introduced for promoting backward and forward linkages for SHG members. It helps members in generating an income for beneficiaries. Under this programme, sanitary napkin production units and knitting group are now facilitated in value chain services through the project and 121 beneficiaries have been involved in the same.